Snabbit marketing spend jumps 5,830 per cent as FY26 loss hits Rs 167.75 crore

MUMBAI: Snabbit is cleaning up on growth, but the bill for building its home services business is getting considerably bigger. The household services platform increased its marketing expenditure nearly 59-fold to Rs 48.69 crore in FY26, up from Rs 82.11 lakh in FY25, as it ramped up customer acquisition and expanded its operational footprint. The aggressive spending came alongside a sharp rise in revenue, but also a net loss of Rs 167.75 crore for the year ended 31 March 2026.

According to financial statements shared by Tofler, marketing expenses surged by approximately 5,830 per cent during the year. The increase far outpaced the growth in operating revenue, which rose to Rs 12.25 crore from Rs 26.35 lakh in FY25. The figures reflect a business investing heavily in customer acquisition and service capacity as it seeks to establish itself in the rapidly developing on-demand home services market.

Snabbit operates through Maestroedge Solutions Private Limited, which reported total expenses of Rs 194.76 crore in FY26, compared with Rs 6.81 crore a year earlier. Its net loss widened to Rs 167.75 crore from Rs 5.70 crore, underlining the cost of expanding the platform during its first full year of operations.

Marketing was among the largest individual expense items. Employee benefit expenses climbed to Rs 46.02 crore from Rs 3.27 crore, while service costs rose to Rs 63.07 crore from Rs 27.02 lakh. Service fulfilment expenses increased to Rs 23.83 crore from Rs 48.48 lakh, reflecting the substantially larger scale of operations.

The company also spent Rs 4.15 crore on legal and professional services, compared with Rs 89.75 lakh in FY25. Software and maintenance expenses rose to Rs 3.66 crore from Rs 39.26 lakh. Together, the figures show that Snabbit’s expansion involved more than simply increasing advertising: it also required investment in employees, technology and the delivery infrastructure needed to fulfil bookings.

Aayush Agarwal, founder and chief executive officer of Snabbit, said FY26 was the company’s first full year of operations and was focused on expanding its footprint and building operating capacity.

“We entered the year at approximately 500 jobs a day across 8 micro-markets and exited at a run rate of 35,000 daily jobs across 100+ micro-markets, representing a 75X increase in just twelve months,” Agarwal said.

The jump from around 500 daily jobs to a run rate of 35,000 represents a substantial increase in activity over the year. The company also said it acquired nearly one million customers and onboarded more than 20,000 Experts, while investing in technology, infrastructure and leadership.

The expansion helps explain why the company’s expense base grew so rapidly. A home services platform needs to attract customers, bring service professionals onto its network and ensure that bookings can be fulfilled consistently across the locations it serves. Scaling those operations across more micro-markets can require spending before the resulting revenue fully catches up.

“Our audited financials reflect this phase of investment. Operating revenue grew from Rs 0.26 crore in FY25 to Rs 12.25 crore in FY26, while net losses stood at Rs 167.8 crore, driven by investments in geographic expansion, customer and Expert acquisition, and long-term operating capabilities,” Agarwal said.

The revenue figures show growth from a relatively small base. Operating revenue increased by more than 46 times year on year, from Rs 26.35 lakh to Rs 12.25 crore. However, the absolute gap between revenue and expenditure remained substantial: total income reached Rs 27.01 crore, while total expenses stood at Rs 194.76 crore.

Platform services contributed Rs 10.82 crore to operating revenue in FY26, while uniform sales accounted for Rs 1.42 crore. Other income rose to Rs 14.77 crore from Rs 84.23 lakh in the previous year. Interest income on bank deposits contributed Rs 14.08 crore, while gains from the sale of mutual funds added Rs 67.85 lakh.

Despite the additional income, the company reported a loss before tax of Rs 167.75 crore, compared with Rs 5.70 crore in FY25. Marketing expenses alone were almost four times operating revenue, while the reported net loss was nearly 14 times operating revenue. These comparisons illustrate the scale of the investment relative to the business’s current revenue base, although they do not establish how much of the spending will translate into future growth.

Snabbit said it raised Rs 427.8 crore during FY26 and ended the year with approximately Rs 319 crore in cash and investments. Agarwal also reported zero borrowings and a net worth of Rs 312.4 crore, providing context for the company’s financial position as it funds its expansion.

The company’s next challenge is to convert its growing network into more sustainable economics. Agarwal said Snabbit’s approach centres on building service density rather than simply adding more geographical locations. In practical terms, that means increasing the concentration of customers and jobs within the areas it already serves, potentially making it easier to coordinate service professionals, fulfil bookings and manage operating costs.

He also pointed to early traction in home cooks and salon services as evidence of opportunities beyond the company’s initial categories. Expanding into additional services could broaden the platform’s offering, although it would also require the company to manage different service requirements and operational workflows.

“Given the pace of growth and the investments required to build this category from the ground up, FY26 financials do not fully reflect the underlying economics or the maturity of the business today,” Agarwal said. He added that operating leverage, improving unit economics and greater network density would become increasingly important as the company scaled.

Operating leverage would mean growing revenue without expenses rising at the same pace. For Snabbit, that could depend on whether additional bookings can be served using its existing network and infrastructure more efficiently, reducing the cost associated with each completed job. The company has not provided figures in the supplied information detailing its current unit economics or the timeline for reaching profitability.

Technology is another part of that effort. Snabbit’s platform spans e-commerce, subscriptions and re-commerce, covering the journey from procurement and refurbishment to servicing, logistics and the redeployment of products across multiple subscription cycles. The company plans further investment in proprietary technology, including artificial intelligence and machine learning applications for refurbishment diagnostics, spare-parts forecasting, technician workflows and logistics.

These tools could help the company manage the complexity that comes with more products, service events and customer interactions. Better forecasting may support inventory planning, while improvements to technician workflows and logistics could help reduce delays and operational friction. The company’s stated objectives include faster workflows, better forecasting and greater visibility across its operations.

Snabbit has also reported rapid growth in water purifiers, with the number onboarded increasing at a compound annual growth rate of 145.16 per cent between FY24 and FY26. The company attributed the expansion to recurring maintenance requirements and its servicing and refurbishment infrastructure. The category provides another example of how its operating model extends beyond bookings for household help into products and services that require ongoing support.

Maestroedge Solutions Private Limited was incorporated in January 2024. Its FY26 financial statements also record the issuance of Series B and Series C compulsorily convertible preference shares during the year, as the company continued to fund its growth.

For now, Snabbit’s financials capture the tension at the heart of a fast-scaling service platform: the network is expanding rapidly, but building that network is expensive. Daily jobs rose from around 500 to 35,000, the company acquired nearly one million customers and its operating revenue reached Rs 12.25 crore. Yet marketing expenditure alone climbed to Rs 48.69 crore, while the net loss widened to Rs 167.75 crore.

The next test will be whether the company can turn that scale into stronger revenue per customer and more efficient service delivery. In a business where growth depends on getting the right service to the right home at the right time, adding customers is only half the job; making each booking work harder financially will be just as important.